Tag: Adam Smith

Geography and Economic Growth

Geography and Economic Growth

Think about some of the biggest and most prosperous cities you’ve been to. What do many of them have in common? Water. They sit on a major coast or on a major river. This map shows GDP density – how much GDP is produced per square kilometer. You can see that the coasts of the …

Ventajas absolutas y comparativas

Ventajas absolutas y comparativas

Hello my name is Alex Calderón And in this company program Let’s learn about the absolute and comparative advantages Which is an important issue that we must understand It is very useful to apply it to the level of productivity comparison Of companies of people and at country level Is an issue that is applied …

Morality & Markets – Man of Systems

Morality & Markets – Man of Systems

Smith thought that those people who believed they knew what was best for others were represented by a figure he called: the “man of system.” The man of system is the man who is entranced, enthralled by his own idea of the ideal, tries to make that ideal a reality. And decides that he’s going …

Adam Smith: Morality & Markets – Is the System Rigged?

Adam Smith: Morality & Markets – Is the System Rigged?

Corruption, fraud, and greed continue to dominate media here in the United States and around the world. As high unemployment and wage stagnation plague the middle class…and growing income inequality has caused millions to wonder: is the system rigged? Is the free market, in its very nature, corrupt? What is the relationship between morality and …

Adam Smith | Wikipedia audio article

Adam Smith | Wikipedia audio article

Adam Smith (16 June [O.S. 5 June] 1723 – 17 July 1790) was a Scottish economist, philosopher and author as well as a moral philosopher, a pioneer of political economy and a key figure during the Scottish Enlightenment. Smith is best known for two classic works, The Theory of Moral Sentiments (1759) and An Inquiry …

Happy Birthday, Adam Smith!

Happy Birthday, Adam Smith!

This founding father of modern economics gave us an entirely new understanding of how society works. His magnum opus, An Inquiry into the Nature and Causes of the Wealth of Nations, influenced thinkers as diverse as Thomas Jefferson, Alexander Hamilton, Karl Marx, John Maynard Keynes, and Milton Friedman. While he’s best known for concepts like …

Why Trade Is Not a Zero-Sum Game

Why Trade Is Not a Zero-Sum Game

[MUSIC] There’s an old school of thought that Adam Smith addressed, going way back when he wrote The Wealth of Nations in 1776, called mercantilism, which used trade is a zero-sum game, and that a country can gain by exporting but loses when it imports. And what Adam Smith showed is that that’s not correct, …

Episode 132: The Ideas of Adam Smith (with Paul D. Mueller)

Episode 132: The Ideas of Adam Smith (with Paul D. Mueller)

Aaron Ross Powell: Welcome to Free Thoughts from Libertarianism.org and the Cato Institute. I’m Aaron Powell. Trevor Burrus: And I’m Trevor Burrus. Aaron Ross Powell: And joining us today is Paul Mueller. He’s an Assistant Professor of Economics at The King’s College in Manhattan and he’s also a columnist for Libertarianism.org. Today we’re going to …

Happy Father’s Day to Adam Smith

Happy Father’s Day to Adam Smith

(laid back music) – For being a role model and shaping our moral sentiments. For letting the kids play outside unsupervised. For always being there to support us with your invisible hand. For teaching us that sometimes the best way to help others is to help ourselves. And for most of all being a cranky …